BITCOIN Futures Arrive; GOLD Sinks; Out of Gold Into BTC (12/11/17)

Bitcoin Gold

FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

12/11/17 Closing Prices:

Bitcoin:  $16,523.41 (+$474.10) (from Friday’s close)
Gold:  $1,243  (-$5) (from Friday’s close)
Dow Jones Industrials:  24,386.03  (+56.87)
S&P 500:  2,659.99  (+8.49)

Nasdaq Composite:  6,875.08  (+35.00)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Monday, 12/11/2017

  • BITCOIN rallies back to Friday’s close
  • Bitcoin futures debut in light, confused trading. Short yet??
  • WAY to much hype and uncertainty. Step back and let things settle down
  • Six months ago…..”what is bitcoin”.  Now, “I heard about it and I want it”
  • GOLD drops again.  Test of $1,200? At least $1,205-$1,210
  • Gold investors (current and potential) switching to BTC
  • Gold most overlooked asset class in the world. Buy low, sell high. I LIKE GOLD
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION:  LONG GOLD

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Read our PRIOR daily commentaries on Bitcoin vs Gold here